Mr. Speaker, we observed a very negative response to this budget in the private sector.
For example, let us look at interest rates. Since the tabling of the budget, in the last six weeks interest rates have risen 35 basis points. The bank rate went up 9 points today. We have had a three-quarter per cent raise in six-month government bond rates and over a full percentage point in long term rates.
Will the Prime Minister admit that not only will this cost the country in terms of job creation it will also endanger the public debt charge cost to taxpayers. It is also important to note that already it is costing Canadians millions of dollars in higher mortgage payments.